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Earn +20 ptsQ: What is inventory variance report?
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Which department is often responsible for the direct materials price variance?
Receiving can affect direct materials price variances if there is no inventory. The accounting department will mark up prices to reflect a shortage.
How do you calculate a budget variance as a percentage?
actual budget/budget = variance%
Set of 25 numbers has standard deviation 6 then it's variance is?
Square the standard deviation to obtain the variance. The variance is 62 or 36.
What is the meaning of analysis of covariance?
A mix of linear regression and analysis of variance. analysis of covariance is responsible for intergroup variance when analysis of variance is performed.
Show that in simple random sampling the sample variance is an unbiased estimator of population variance?
It is a biased estimator. S.R.S leads to a biased sample variance but i.i.d random sampling leads to a unbiased sample variance.
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